Tag: Cyber Insurance

Why Businesses are Turning to Cyber Insurance for Protection

Storing data electronically is convenient for businesses across industries.  While the storage abilities of the Internet benefit many, the drawback is that online data is always at some level of risk for cybercrime.  As internet access expands worldwide, so too does the volume of business taking place online.  Sharing data across multiple apps and clouds, among other acts, increases the opportunity cyber criminals have to exploit company weaknesses.   Cyber …
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Law Firm Takes Cyber Insurance Provider to Court for Not Covering US$700,000 in Ransomware Losses

One of the more positive outcomes as a result of increasing cyber attacks is how companies can now obtain cyber insurance. This type of insurance protects the company against financial losses due to a wide range of cyber attacks. Or that is how it should work, at least, as a law firm in Rhode Island is suing its insurer over not paying money lost due to a ransomware attack. Cyber …
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Cyber Insurance Industry Needs a Lot of Work, Deloitte Report Finds

One of the latest trends to pop up the cyber security sector is the topic of cyber insurance. Companies and entrepreneurs all over the world want to protect their businesses and data through an online insurance policy. Unfortunately, this trend has some hurdles that need to be overcome, including poor communication, incomplete data, and a lack of awareness. Did You Know Cyber Insurance Existed? Up until this point, just 29% …
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